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Rise and Fall of the State-Led Model: South Korea

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Abstract

South Korea is a developed country that first achieved a miracle under a state-led model but then failed in sustaining that performance. In this chapter, the country’s G&D performance has been examined mainly in four periods: 1961–1979, 1980–1996, 1997–2007, and 2008–2015. Using the analytic frame suggested in Chap. 1, this chapter concludes that the root cause of the South Korea’s impressive and faltering performance of G&D in the first and the subsequent two periods, respectively, has been the establishment of an intrinsic model of systemic governance and the fragmentation of its institutional complementarities, respectively. And this process of fragmentation throughout nearly three decades has ended up with an institutional trap in the last period.

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Authors and Affiliations

  1. Department of Economics, Istanbul University, Istanbul, Turkey

    Taner Akan

  2. Department of International Development, King’s College London, London, UK

    Taner Akan

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  1. Taner Akan
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Akan, T. (2018). Rise and Fall of the State-Led Model: South Korea. In: The Complementary Roots of Growth and Development. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-319-68932-6_3

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  • DOI: https://doi.org/10.1007/978-3-319-68932-6_3

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  • Publisher Name: Palgrave Pivot, Cham

  • Print ISBN: 978-3-319-68931-9

  • Online ISBN: 978-3-319-68932-6

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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